Dennis BerkA.P. World
Dr. Andrews Summer AssignmentThe accelerating pace of international trade is one of the most dominating, and important features, of contemporary life. Globalization is creating widespread changes for societies, economics, and governments. Since the invention of the steam engine, transportation and communication limits have faded away and, with the development of the Internet, practically disappeared. A case can be made for the proposition that trade, throughout history, has been the main engine for the development of the world as we know it today. In his book, A Splendid Exchange: How Trade Shaped the World, William J. Bernstein makes this case.

The main thesis of A Splendid Exchange by William J. Bernstein is to describe how, where, and why trade goes on in certain parts of the world, and how it affects completely different regions on Earth. Bernstein does this by using facts, details, and accounts of other economists and writers. A Splendid Exchange is not just about the trading of silk, tea, or coffee. It also speaks about the movement of diseases throughout the world. For example, when Christopher Columbus sailed the Nina, Pinta, and Santa Maria into the New World, disease quickly spread throughout the Americas, such as small pox. Obviously at the time the diseases made life miserable for many of the people living in the Americas, killing loved ones, friends, and family making it much more difficult for everyone to live. However, because the disease was spread, many people that now live in the Americas are immune to these diseases, including small pox. This is a classic example of the idea of natural selection, stating that only the fittest survive. Bernstein writes about this again in his novel while talking about the plague that rampaged through the streets of cities in Europe during the Dark Ages. This plague killed off an enormous amount of the European population, but eventually...

...﻿MGT 5312: International Management
Book Review # 1
A SplendidExchange: How Trade Shaped the World. Bernstein, William J. New York: Grove Press, 2008. 467 pp.
A SplendidExchange is an inside look at how trade has had an impact on human development. The book answers the questions of how trade developed, how it expanded, and how trade is an essential economic force. The author, William J. Bernstein, explains how trade almost always benefits the nations that engage in it, but only when averaged over the entire national economy. The push for to trade is been a part of our history, and new patterns of trade always produce advantages and disadvantages. Bernstein explains that from a historical standpoint, which has been going on for centuries. For example, tea parties protesting taxes have been going on throughout history. The historical Boston Tea Party had almost nothing to do with taxes; to a certain extent, it was a protectionist reaction by middlemen and smugglers cut out of the tea trade by the decision to allow the East India Company to directly market its products in the colonies. This stunt launched the American Revolutionary War.
The focus within each chapter comes from the following areas. Foreign trade has a full place for millennia and has had a deep impact on human growth. Throughout history, trade has been mainly nations’ key cause of success. The initial long-distance trade goods were the most...

...Exchange is change. Rapid, brutal, beautiful, hurtful, colorful, amazing, unexpected, overwhelming and most of all constant change. Change in lifestyle, country, language, friends, parents, houses, school, simply everything. Exchange is learning to trust. Trust people, who, at first, are only names on a piece of paper, trust that they want the best for you, that they care. Trust, that you have the strength to endure a year on your own, endure a year of being apart from everything that mattered to you before. Trust that you will have friends. Trust that everything’s going to be alright. And it is seeing this trust being justified. Exchange is thinking. All the time. About everything. Thinking about those strange costumes, the strange food, the strange language. About why you’re here and not back home. About how it’s going to be like once you come back home. How that boy is going to react when you see him again. About who’s hanging out where this weekend. At first who’s inviting you at all. And in the end where you’re supposed to go, when you’re invited to ten different things. About how everybody at home is doing. Exchange is people. Those incredibly strange people, who look at you like you’re an alien. Those people who are too afraid to talk to you. And those people who actually talk to you. Those people who know your name, even though you have never met them. Those people, who tell you who to stay away from. Those...

...Go Exchange! Program | Frequently Asked Questions
1. How does AIESEC differ from other providers of internships?
AIESEC does not define itself as provider of internships only. Rather, AIESEC offers you many diffe rent
opportunities to discover and develop your potential. Although an internship abroad is an essential part of the
experience you can gain in AIESEC, it is closely linked to other experiences rather than separated from them.
Those who only want to do an internship to develop professionally will most probably find a more suitable offer
elsewhere.
2. What does the AIESEC Go Exchange! Program offer?
The AIESEC Go Exchange! Program offers you the possibility to have an intense cultural experience in one of
its 107 member countries. Concretely, AIESEC in Malaysia prepares you for the internship, while the section in
the host country helps you to apply for visa and work permit and organizes your accommodation. In addition,
they take care of you as soon as you are there, make you familiar with their culture and organize events where
you get to know other interns.
3. What does AIESEC NOT offer?
AIESEC does not provide internships, which will:

provide you with a very high salary – all interns get an allowance high enough to cover the cost of living in
particular country;

support you in getting permanent residence in host country;

give you opportunity to travel (and nothing more) – we want...

...﻿Exchange rates are the value of one currency with respect to another, for the purpose of conversion. They affect investment levels, via the cash rate and values of domestic assets; trades, via prices and the terms of trade (TOT); liabilities, via currency appreciation or depreciation and the valuation effect, and trades. Exchange rates are influenced by government policies in the short term and market forces in the long term. Since the Australian dollar (AUD) was floated in 1983 it has experienced an appreciating trend; however, in recent years the AUD has depreciated from its mining-boom highs due to expansionary monetary policy and weaker economic outlooks.
Prior to the 1980s, Australia’s exchange rate system was under a fixed system, whereby the government determines the value of the currency in terms of a fixed value of another currency or a basket of currencies. In 1983, the exchange rate system began to operate under a floated system in which there is no government intervention and the value of the AUD is determined by market forces. For instance, an increase in supply of AUD depreciates the currency and an increase in demand appreciates the currency. Under a floated system, the exchange rate also correlates with the cash rate; an increase in the cash rate increase demand for AUD thus appreciating the currency, whilst a decrease in the cash rate also decreases supply, effectively depreciating the...

...﻿Being an exchange student has given me the chance to now spread out my opinions of a foreign country. And this may catch the attention of those who are also deciding upon taking the same sweet challenge, just as I did.
I consider someone lucky when he or she gets the opportunity to live a fascinating experience one year abroad. I had the chance to live this experience in a little town called Horton, located in Alabama. An experience like this forces you to live so many different moments I was surrounded by amazing, caring and loving people. The ones that made the whole experience a memory I'll treasure forever in my heart.. My experience in the States has been so far the best year of my life, it’s not only the fact that I have improved my English skills, it’s the fact that I have made new lifelong friendships .These have been formed not only with my wonderful host family but also with people from school, fellow exchange students and my coordinator. It is also the fact that I have grown up as a person and now I am more self-sufficient. I have gained a new family, at first I was just their exchange student, but as time went by, I became part of the family. My year has been completed thanks to the High School where I had the chance to be part of lots of activities, fun classes and sports, particularly tennis. Tennis brought onto my exchange not just one but two families. So to sum up, I have learnt so many new...

...﻿Exchange Risk
Currency risk is also called the foreign exchange risk or foreign exchange exposure, refers to a period of international economic transactions in foreign currency-denominated assets (or creditor) and liabilities (or debt), caused by fluctuations in the exchange rate and its value will go up and possibilities.
Risk of stake-holder including government, enterprises, banks, individuals and other sectors, they are facing the risk of exchange rate fluctuations.
Classification
1. Transaction risk
Transaction risk also referred to as settlement risk, refers to the use of foreign currency-denominated payment transactions, possibilities of economic subjects have suffered losses arising from exchange rate changes. It was a traffic risk.
Transaction risk is mainly manifested in the following aspects.
(1) in the import and export of goods, services, transactions, from contract signing to the loans settlement during this period, foreign exchange risks arising from exchange rate fluctuations.
(2) in international credits denominated in overseas currencies. Risks exist prior to debt outstanding.
(3) foreign exchange banks in foreign exchange trading foreign exchange positions, long or short positions in, also suffered because of the exchange rate risk.
2. Translation risk
Conversion risk is...

...
The central feature of world history between late 15th Century and 1700 was the expansion of Europe and the spread of European culture and civilisation throughout the globe. Until 1500 the world had, on whole, pressed in on Europe. Beginning in the 1500s, Europe began to press out on the world. This period in history is known as the Age of Discovery or Exploration. During this time, driven by a variety of motives, European explorers mapped almost all of the world’s seas and outlines of the continents and completed incredible feats such as the rediscovery of America and the circumnavigation of the globe. Through exploration Europe began to change the balance of power, tipping it in favour of European civilization. By the end a new global balance was in existence. The Age of Exploration was instigated by two European countries situated on the Iberian Peninsula, Spain and Portugal. In the 15th Century, the sea was seen as mysterious and feared. Most of it was unknown territory, blank on the maps, and what cartographers did not fill in, a vivid imagination did. Aside from fear of the unknown, the probability of becoming hopelessly lost, or encountering frequent storms, and disease, kept most people on land. Any sailing in those days was done within sight of the coastline. But despite this, Spain and Portugal found men willing to brave the known and unknown dangers of the sea, and spent great sums of money to sponsor their voyages. Why did they do this?
There are many...